The recent recovery was driven by reports that the Omicron variant of the coronavirus is more contagious but leads to fewer hospital stays and fewer deaths.
(Photo: Reuters)
Frankfurt, New York Even on the penultimate trading day of the year on Wall Street, the US stock exchanges did not allow themselves to be dissuaded from their record price. The Dow Jones standard stocks index and the broad S&P 500 rose about half a percent on Thursday. With 36,679.44 and 4808.93 points, respectively, they marked new highs. The technology-heavy Nasdaq gained 0.6 percent, but initially missed a new record high. The three indices have each gained around 20 percent since the beginning of the year.
The lower level of danger of the newly discovered Omikron variant of the coronavirus and the shortening of the quarantine in the US match his forecast that the supply chain disruptions will resolve in early 2022, said investment strategist Scott Chronert from Citigroup. Micron is currently struggling with these problems. The memory chip manufacturer warned of production downtimes in the region’s semiconductor factories due to a pandemic-related lockdown in the Chinese city of Xian. Micron shares then fell by around one percent.
Wall Street got a boost from the surprising decline in initial US jobless claims, among other things. Investors had prepared for the pandemic and assumed that the economy would be able to cope with the current level of infection and the Omikron variant, said Rick Meckler, partner at asset manager Cherry Lane.
Broken takeover fantasies weigh on Biogen
One of the biggest losers on the US stock market was Biogen, which was eight percent cheaper. Samsung BioLogics denied a media report about a planned multi-billion dollar takeover of the US pharmaceutical company.
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The relationship with China will be an important factor for the stock exchanges in 2022, predicted Cherry Lane expert Meckler. Because there are many points of friction: trade, the Chinese values listed on Wall Street and economic relations as a whole.
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Didi: Investors initially reacted disappointed to the decline in sales at Didi. The Chinese transport operator is under great pressure from the government in Beijing, which accuses the company of misusing customer data and therefore blocked several Didi apps from being downloaded. The US-listed shares of the Uber rival temporarily fell to a record low of $ 4.78, but then rose 6.4 percent to $ 5.25.
Micron: Micron is currently struggling with these problems. The memory chip manufacturer warned of production downtimes in the region’s semiconductor factories due to a pandemic-related lockdown in the Chinese city of Xian. Micron shares then gave way to 2.3 percent.
Biogen: The titles of Biogen, which were cheaper by six percent, also came under selling pressure. Samsung BioLogics denied a media report about a planned multi-billion dollar takeover of the US pharmaceutical company. On Thursday, the title slipped by 5.3 percent.
Johnson & Johnson: Two doses of the corona vaccine from Johnson & Johnson reduced hospital stays caused by the Omicron variant in South Africa by up to 85 percent – an important finding as the vaccine is increasingly used on the continent. The results of the South African Medical Research Council studies could also explain why hospital admissions and deaths do not follow the exponential increase in new cases. Johnson & Johnson shares rise 0.4 percent.
Ocugen: There was also strong demand for Ocugen papers, which were up to 15.5 percent more expensive. According to development partner Bharat Biotech, the pharmaceutical company’s coronavirus vaccine has proven to be as effective as it is in adults when tested on two to 18-year-olds.
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